Disney Completes Acquisition Of 21st Century Fox for $ 71.3 Billion

March 21, 2019EntertainmentComments Off on Disney Completes Acquisition Of 21st Century Fox for $ 71.3 Billion238 Views

CALIFORNIA – Disney has completed the purchase of 21st Century Fox for $71.3 billion, creating an entertainment monster of unprecedented scale.
The Walt Disney Company concluded Wednesday the acquisition of Rupert Murdoch’s entertainment activity shortly after midnight, New York time.
The mega deal sees Disney absorb Fox film and television studios, FX networks, National Geographic and Indian TV giant Star India. Some of Fox’s other properties, including its press and sports businesses, have been transferred to the new Fox Corporation.
She plans to launch her new Disney Plus cast later this year to challenge Netflix for a future audience share.
Before the takeover, Disney already had a vast catalogue of content, including classic cartoons, Star Wars and many characters from Marvel. After buying Fox, he will be able to add to his X-Men and Deadpool wallet.
In a statement, Robert Iger, President and CEO of The Walt Disney Company, said, “This is an extraordinary and historic moment for us – an event that will create significant long-term value for our company and our shareholders.
“The combination of the rich creative content of Disney and 21st Century Fox and its proven talent creates the ultimate global entertainment company, well positioned to lead an incredibly dynamic and transformative era.”
Rupert Murdoch, a former billionaire and former owner of 21st Century Fox’s executive co-chair, wrote a letter to his employees two days before the finalization of the takeover, thanking them for their work.
(Sahar News Monitoring Desk)